The US and India are close to finalising a trade deal, with most of the major issues resolved, US Ambassador to India Sergio Gor said on Thursday, echoing comments from senior Indian officials earlier this week.
“The big picture, the big framework, the big items are done, Gor said at the Bloomberg New Economy Forum in New Delhi. The two countries are very close to “landing it,” he added.
The major issues had been resolved, while some of the remaining hurdles involved new matters that emerged as negotiations progressed, including changes in technology. “The big items are done,” he said, adding that new issues arising during lengthy talks were natural.
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His comments underscore the optimism earlier this week by Indian External Affairs Minister S. Jaishankar who said he was encouraged by progress in trade talks between India and the US, and that the two sides were “heading toward a landing point” after more than a year of negotiations.
Both the comments come after Indian Finance Minister Nirmala Sitharaman signalled a stalemate in trade talks between Washington and New Delhi a few weeks ago terming they had reached a plateau. US Trade Representative Jamieson Greer had said while negotiations were in “short strokes”, the deal wasn’t “imminent”.
Talks have been complicated by new US legislation enabling US President Donald Trump to impose as much as 100% tariff on buyers of Russian oil and gas. Gor said the two countries are discussing the issue and Trump would make a decision “over the next few days.”
The ambassador said the measures wasn’t aimed specifically at India or any other country, but were designed to increase pressure on Russia and help end the war in Ukraine.
“It just happens that India does fall in one of those buckets, along with a lot of other countries,” he said.
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